Petroleum Business summit is a waste of taxpayers’ money- Jagdeo

Leader of the People’s Progressives Party/Civic, Mr. Bharrat Jagdeo, has yet again denounced the Government of Guyana. This time, he strongly believes that the second annual Guyana International Petroleum Business Summit & Exhibition (GIPEX) is a waste of taxpayers’ money.

Opposition Leader, Bharrat Jagdeo

He explained that the exhibition is an “abuse of state resources… [The government] shouldn’t be using any money.”
Jagdeo added that his party is bringing the event to the attention of the international community.
GIPEX, which is organised by the government, the Guyana Office for Investment (GO-Invest) and the Department of Energy, and facilitated by VALIANT Business Media, is said to provide immense opportunities for companies, in the sector of oil and gas, across North and South America, Europe, Africa and Asia.
The Opposition Leader emphasised that to participate in the event, interested businesses would have to pay a fee of US$2,000. It is in this regard that Jagdeo points out that the average Guyanese business person would not be able to afford the participation costs—leaving the foreign companies to take the lead at the expo.
“You have to pay a lot of money to be a participant of this…which puts it out of the reach of Guyanese.”
This group from abroad will come and try to define the oil and gas sector for us, too. That is what is happening now. The government has farmed this out to foreigners,” he stated.
When this publication viewed the agenda of the petroleum summit, it was stated that the businesses would receive greeting remarks from the US Secretary of Energy.
Jagdeo, on the other hand, shares a different view.
“The US Secretary of Energy is not coming here. We have confirmed that. This is part of their marketing tool to get people to pay the fees for the conference… No one is going to come to the opening address of His Excellency, Mr. Granger,” he related.
Jagdeo stated that his party might consider protesting the event on the day.
He continued, “Let me make this clear, maybe we will protest this event. Maybe we will protest the waste of money that is taking place now. I am putting the sponsors on notice. So you could very well see a protest about this.”
Being an inaugural event, the first annual GIPEX event exceeded expectations in terms of participations from 600 global delegates and 200 international and national oil and gas companies.
Many well-established companies from the oil and gas sector have already shown their interest and made their commitment to be a part of this year’s event to be held in Guyana—a country they deem the “most prominent Oil and Gas destination in South America and the Caribbean”.
GIPEX will be held from November 20 at the Marriott Hotel in Kingston.